The 22-year-old has played a vital role in the Swans' strong start to the Premier League campaign, which has seen them win three of their opening four games.
Hodgson has previously admitted that Shelvey is very much in his plans, but the one-time capped former Liverpool man was left out of the Three Lions' most recent squad.
"I believe that I could play for England, when the time comes and I get picked," BBC Sport quotes him as saying. "It's down to, obviously the manager, to pick me.
"For me growing up from where I'm from to be picked and play for your country, it's just an honour, and to play at Wembley. When I made my debut last time against San Marino, I had about 70 of my family there. So it's a big thing for me and my family if I play for my country."
Shlevey joined Swansea from Liverpool last summer.